The Procure Space ETF (NASDAQ:UFO) is an investment fund that focuses on companies involved in space-related businesses. It typically invests at least 80% of its net assets in companies listed in its underlying index, which are required to generate at least 50% of their revenue or profits from space-related activities.
These space-related businesses can include companies that utilize satellite technology for various purposes, such as telecommunications, navigation, Earth observation, or space exploration. The underlying index serves as a benchmark for a globally traded portfolio of companies in the space industry.
As a non-diversified fund, the Procure Space ETF may invest a larger portion of its assets in a smaller number of companies, which can lead to higher potential returns but also increased risk. The fund is listed on the NASDAQ stock exchange under the ticker symbol UFO and has the ISIN code US74280R2058.
Investors in the Procure Space ETF can gain exposure to a range of companies involved in the space industry, from satellite manufacturers and launch service providers to companies offering space-based services and technologies. This can provide a way to participate in the growth and development of the space industry, which is expected to continue expanding in the coming years.